Bank of Montreal Can Decreases Position in Baker Hughes (NASDAQ:BKR)

Bank of Montreal Can decreased its stake in Baker Hughes (NASDAQ:BKR) by 4.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,468,953 shares of the company’s stock after selling 60,599 shares during the period. Bank of Montreal Can owned approximately 0.15% of Baker Hughes worth $53,147,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. National Pension Service lifted its stake in shares of Baker Hughes by 6.4% in the third quarter. National Pension Service now owns 1,362,973 shares of the company’s stock worth $49,271,000 after acquiring an additional 81,625 shares in the last quarter. Hixon Zuercher LLC acquired a new position in shares of Baker Hughes in the third quarter worth about $1,980,000. Wedge Capital Management L L P NC lifted its stake in shares of Baker Hughes by 20.5% in the second quarter. Wedge Capital Management L L P NC now owns 726,291 shares of the company’s stock worth $25,544,000 after acquiring an additional 123,689 shares in the last quarter. Banque Cantonale Vaudoise lifted its stake in shares of Baker Hughes by 76.1% in the third quarter. Banque Cantonale Vaudoise now owns 122,661 shares of the company’s stock worth $4,434,000 after acquiring an additional 53,006 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Baker Hughes by 7.6% in the second quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock worth $223,523,000 after acquiring an additional 455,307 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of BKR stock opened at $43.61 on Thursday. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $45.17. The firm has a market capitalization of $43.15 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 0.73 and a beta of 1.38. The business has a 50 day simple moving average of $39.09 and a 200 day simple moving average of $35.86. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. During the same period in the prior year, the company posted $0.42 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Monday, November 4th. Baker Hughes’s payout ratio is currently 37.67%.

Wall Street Analyst Weigh In

Several analysts have issued reports on BKR shares. Barclays upped their price objective on Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Morgan Stanley upped their price objective on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. BMO Capital Markets upped their price objective on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company upgraded Baker Hughes from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.76.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.